Canada Day 2022: 2 TSX midcap stocks to celebrate it with

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Canada Day 2022: 2 TSX midcap stocks to celebrate it with

 Canada Day 2022: 2 TSX midcap stocks to celebrate it with
Image source: © Amarosy | Megapixl.com

Highlights

  • PBH stock posted a gain of almost four per cent in the last one week
  • Maple Leaf firm said that its total sales increased by seven per cent year-over-year in Q1 2022

As a long weekend begins with Canada Day on Friday, July 1, many Canadians have planned festivities and events to enjoy with their friends and families. Amid these celebrations, some TSX stocks like Premium Brands (TSX: PBH) and Maple Leaf (TSX: MFI) could see a surge in their businesses as people across the nation head out for this occasion.

Let us explore these TSX midcap stocks.

Premium Brands Holdings Corporation (TSX: PBH)

Premium Brands said its quarterly revenue zoomed by 23.9 per cent year-over-year (YoY) to C$ 1.25 billion in the first quarter of 2022. The food company also noted a 16.1 per cent growth in Q1 2022 relative to Q1 2021.

PBH stock posted a gain of almost four per cent in the last one week. As per Refinitiv data, PBH had a Relative Strength Index (RSI) value of 44.38 on June 30, above the oversold range of 30.

2 TSX midcap stocks to celebrate Canada day: PBH and MFI

Maple Leaf Foods Inc (TSX: MFI)

Maple Leaf launched two plant-based chicken products in April and a plant-based hot dog in May. On the financial side, the food firm said that its total sales increased by seven per cent in Q1 2022 from Q1 2021, with a growing adjusted EBITDA margin of 5.9 per cent.

MFI stock plunged by over 14 per cent year-to-date (YTD). According to Refinitiv data, MFI held an RSI value of 37.65 on June 30.

Bottomline

Though the Canadian stock market will be closed on Canada Day, investors can take a detailed look at Premium Brands and Maple Leaf in July. These TSX midcap stocks saw their revenue rise in the latest quarters and also distribute dividend income.

Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks. 

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